Wednesday, December 20, 2017

Jiutian Chemical: Targets hit but selling may continue below 0.060, price 0.058

Following up from blog post on Jiutian Chemical last month >>>

Just wanted to cover this counter again to see if there can be more weakness

Previous chart with downside targets drawn as seen below again..

For illustration purpose only

Over the past week, we have seen indeed seen more selling and finally our 2nd target at 0.060 has been breached today too.

Though targets has been hit, it can also be revised lower and …

There can be more downside towards 0.050 then 0.045 too with more confirmation required for now..

Indicators still looking weak especially below 0.060……

Glad that we had an exit on the system just before the recent sell down as mentioned in previous post, cautious long.…

See where we are below now.

For illustration purpose only

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